Public Sector Pension Investment Board Has $11.10 Million Stake in Korn/Ferry International (NYSE:KFY)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Korn/Ferry International by 26.2%, acquiring a total of 163,571 shares valued at approximately $11.10 million.
• Korn/Ferry International reported $1.32 earnings per share (EPS) for the last quarter, exceeding estimates and showing a 3.1% increase in revenue year-over-year.
• Several analysts raised their target prices for Korn/Ferry International, with Truist Financial setting a new target of $88.00 and giving a "buy" rating.

Public Sector Pension Investment Board grew its position in Korn/Ferry International (NYSE:KFY - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 163,571 shares of the business services provider's stock after purchasing an additional 33,981 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Korn/Ferry International worth $11,095,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of KFY. Versant Capital Management Inc raised its holdings in Korn/Ferry International by 75.9% in the first quarter. Versant Capital Management Inc now owns 517 shares of the business services provider's stock worth $35,000 after purchasing an additional 223 shares during the period. CX Institutional acquired a new stake in Korn/Ferry International in the first quarter worth $39,000. Headlands Technologies LLC acquired a new stake in Korn/Ferry International in the first quarter worth $105,000. Sterling Capital Management LLC raised its holdings in Korn/Ferry International by 828.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,671 shares of the business services provider's stock worth $113,000 after purchasing an additional 1,491 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Korn/Ferry International by 11.4% in the first quarter. GAMMA Investing LLC now owns 1,937 shares of the business services provider's stock worth $131,000 after purchasing an additional 199 shares during the period. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KFY has been the subject of several research reports. Wall Street Zen downgraded shares of Korn/Ferry International from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, July 9th. Truist Financial lifted their target price on Korn/Ferry International from $80.00 to $88.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Finally, UBS Group lowered their target price on Korn/Ferry International from $75.00 to $74.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th.

Korn/Ferry International Price Performance

KFY traded down $0.68 during trading on Friday, hitting $72.57. 234,164 shares of the stock traded hands, compared to its average volume of 277,112. Korn/Ferry International has a twelve month low of $59.23 and a twelve month high of $80.64. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 15.71 and a beta of 1.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.83 and a quick ratio of 1.83. The business has a 50 day moving average price of $72.12 and a 200 day moving average price of $68.09.

Korn/Ferry International (NYSE:KFY - Get Free Report) last announced its quarterly earnings data on Wednesday, June 18th. The business services provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.26 by $0.06. Korn/Ferry International had a net margin of 8.91% and a return on equity of 14.49%. The business had revenue of $712.05 million during the quarter, compared to the consensus estimate of $690.07 million. During the same period in the previous year, the business earned $1.26 earnings per share. The company's revenue was up 3.1% on a year-over-year basis. Equities research analysts forecast that Korn/Ferry International will post 4.75 earnings per share for the current fiscal year.

Korn/Ferry International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.48 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.92 annualized dividend and a dividend yield of 2.6%. Korn/Ferry International's dividend payout ratio is 41.56%.

Korn/Ferry International Profile

Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations.